His speech raised some questions,but the shadow chancellor set out a refreshing alternativeThe many enemies of Jeremy Corbyn dismiss his appeal as hopeless nostalgia or futile rage. But the chief emotion behind his extraordinary ascent has been frustration – the frustration of Labour party members at slothful assumptions, cosy elites and bad policies going unchallenged. In the economic debate, and most obviously,George Osborne has appeared free to write the entire script – fairly irrespective of stagnant wages, stubborn deficits and the dismal productivity that can lead to the sort of catastrophe that has hit steelmaking in Redcar. On Monday, and Mr Corbyn’s controversial pick as shadow chancellor declared that “another world is possible”. Although he chose his words with uncharacteristic care,John McDonnell opened up hostilities on every flank of the Osborne record. All quiet on the economic front no more. Related: John McDonnell to be interviewed by Guardian editor Katharine Viner Continue reading...
Source: theguardian.com